Cryptopolitan
2021-09-20 07:22:38

Tezos Price Analysis: XTZ retraces below $6.0 support

TL;DR Breakdown Tezos price analysis is bearish for the next 24 hours.Tezos saw a bounce from $6 support today.Further upside currently gets rejected. The bearish trend in Tezos price analysis is continuing today, as the market has retraced from $6 and is now rejecting any additional gains near $5.85. As a result, we anticipate XTZ/USD to make another attempt to retest the $6 support. The overall market was in the red for the past 24 hours. Bitcoin is down by  4.85%, while Ethereum has declined by 6.36% over this time period. Meanwhile, Cardano (ADA) is the biggest loser, with an 8% loss. Tezos price movement in the last 24 hours: Tezos rejected by $6 mark The price of XOTZ/USD has been in the range of $5.63 to $6.51 this week, showing little volatility over the last 24 hours. Trading volume has stayed almost flat; it is up by just 0.71 percent and stands at $918 million. Meanwhile, the overall market cap is valued at around $4.9 billion. XTZ/USD 4-hour chart: XTZ to go for another test of the $6 support? On the hourly chart, we can see that the Tezos price has failed to move significantly higher today, suggesting another selloff before night falls. XTZ/USD 4-hour chart. Source: TradingView The price of Tezos has seen renewed momentum over the last month. After a drop to $4 on the 7th of September, a new significant swing high was established. On the 14th of September, XTZ/USD rose 100% to $8. However, the market didn...

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